Bravery around pricing strategy

A fantastic story here from Hogan Lovells combining a business like approach to pricing with confidence in their service offering to the client.

This sort of approach takes courage but the outcome in this case looks fabulous.

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The client brought “a lot of honour to the firm,” according to Green. But Hogan Lovells finally made it clear: “We cannot afford to work for you,” Green said.
Eventually, with Williams’ help, the firm renegotiated its rate agreement with the client, preserving and strengthening the relationship.
Green recalled: “We loved it so much that we were working for nothing. Then Terry came in and said, ‘This just isn’t fair to the firm.’